Make Link works in a couple of handy ways: If you right-click an existing link, you can make a link that will use the same URL and link text. On the other hand, if you highlight any plain text on the page and make a link that way, your link will contain the highlighted text and point to the URL of the page you're currently visiting. Finally, if you don't select any text and choose to make a link, your link contains the page's title and again points to the current page. If you're not very familiar with how to go about making links on the web/in forums, or you just want to save a few steps, Make Link is a handy time saver.

You can also configure your own link types through the Make Link options, so Wikipedia junkies might want to add MediaWiki-style links. Personally, I shortcut all my links with Texter on Windows and Textpander on my Mac, but if text replacement apps aren't your thing, this is a very cool extension.